Crisis, what crisis? by Jose Douglas

We don't have a crisis at this time, no matter what the government is
trying to tell you!
93% of the people are still employed, and over 93% of the people are
still paying their mortgages.
When we have bread lines, gas lines, and such, then we have a crisis.
Right now we have a problem; well two problems really.
The first problem is that we are in denial that we have the problem to
begin with.
What might that problem be?
It's personal greed and irresponsibility.
The people of the U.S. as a whole have over stressed the economy by
borrowing money on their credit cards to buy "stuff". When they maxed out

the credit card they simply got another and another.
When they couldn't get any more credit cards they then got a second
mortgage on their homes which had gone up in value,
paid of their credit cards and started the cycle all over again.
Suddenly, because of greed and irresponsibility, housing values dropped
and people were either "upside down" on their homes,
or simply could no longer borrow any more money.
Consumed by consumerism!...telephone lines keep lying...give it to me,
just give it to me!!!

All the spending and job creation in the world cannot fix this problem,
the economy is over stressed.

There will be some that say "some people still have money". True, but
that won't solve the problem.
Why do some people still have money? Well, because they don't spend it!
They are conservative and frugal. They buy second hand cars, run them to
the ground and then buy another used car,
they shop at pawn shops and thrift shops although they don't have to.
These people aren't going to help our "consume" economy.

Can we get out of this problem?
Yes and no.

Not if the American people stay in denial; "We want our 4% cost of
living adjustment even if it means having to let go 5 of our co-workers
and friends."
Not if the people are not fiscally responsible; forget the government,
it has to come from the people.

The only way to get out of this is to get rid of the IRS and replace the
current tax code with a 15% flat consumption tax, excluding food and
prescription drugs.
By totally eliminating the payroll tax, and if people fess up and become
responsible, they can get themselves out of debt and then and only then
start living within their ways and means. When this finally happens, the
economy will recover.

This would take time; at least five years or more!
Politicians of either party will not back this because it's not a good
scenario, and the time frame for them is dismal, as they would not get
re-elected.